Mondi in $782m Nordenia deal

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South Africa's Mondi Group said yesterday it will buy German packaging firm Nordenia International from Oaktree Capital, in a $782m (£502m) deal that will give the paper maker a bigger presence in consumer packaging. Mondi will buy 93.4 per cent of Nordenia from private equity firm Oaktree and other minority shareholders in a cash and debt deal.

Nordenia makes more than 90 per cent of its revenues from the packaging and components of consumer products.